BREAKING….Real life under the Obaman ‘recovery’

Industry boom in America/Ten to a room in America.   (West Side Story)

nopeIgnore the White House Obamabollocks, and study the data instead. A new study in the US conducted for Associated Press finds as follows:

* Four out of 5 U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives

* Hardship is particularly on the rise among whites, based on several measures. Pessimism among that racial group about their families’ economic futures has climbed to the highest point since at least 1987. Two thirds of all middle-income whites think the economy is in “poor” shape.

* Economic insecurity among whites  is far more pervasive than is shown in government data, engulfing more than 76% of white adults by the time they turn 60

* More than 19 million whites fall below the poverty line of $23,021 for a family of four, accounting for more than 41% of the nation’s destitute, nearly double the number of poor blacks

* 12.6% of adults in their prime working-age years of 25-60 live in poverty

* For the first time since 1975, the number of white single-mother households who are living in poverty with children has surpassed black ones, driven largely by job losses and faster rates of out-of-wedlock births among whites. White single-mother families in poverty stood at nearly 1.5 million in 2011, comparable to the number for blacks. Hispanic single-mother families in poverty trailed at 1.2 million.

: – ((((((((((((((((((((((((((((((((((((((((((

“They don’t trust big government, but it doesn’t mean they want no government,” says Republican pollster Ed Goeas, who agrees that working-class whites will remain an important electoral group. “They feel that politicians are giving attention to other people and not them.” Crikey, so it’s not just us then.

This was the latest bromide from possibly the most under-achieving President in US history:

“This administration’s highest priority is to rebuild ladders of opportunity, and reverse income inequality.”

Rock on, Barry. By the way, what were you doing during the last five years – reversing ladders of opportunity and doubling income equality? Why are 50% more Americans on food stamps than before you came into Office, Mr First Black President Yes We Can Obama?

Bollocks, all of it. And the data shown above prove it beyond doubt.

This is what The Slog is about: evidenced bollocks deconstruction. Let others yell their thick heads off and use f**k and c**t every third word. In the end, it’s exploding the myths that turns the tide. The great thing about this new AP research is that it blows just about every neoliberal racist myth on the planet sky high.

So then, Dan Hannan, Ben Brogan et al who keep telling us the US economy is “roaring ahead”….where do you go from here guys? More repetition of the bollocks? I thought so – fair enough.

Just so long as the Truth is out there. You will fall on your faces in the end.

Sunday at The Slog: Astonishing new scheme to rid Commons of graft

34 thoughts on “BREAKING….Real life under the Obaman ‘recovery’

  1. More legerdemain needed!
    From the FT:
    US economic history will be rewritten this week, as the most far-reaching methodological changes in years will add the equivalent of a country the size of Belgium to output in the world’s largest economy.
    The most important change by the Bureau of Economic Analysis, to be announced on Wednesday, will be to start counting spending on research, development and copyrights as investment, and reflect pension deficits for the first time. Combined they are expected to add 3 per cent to gross domestic product..

  2. Indoctrinated people leave their critical thinking skills behind… how many of these people read the Slog I wonder..?

  3. Oh, but the economy is roaring ahead, it’s making the rich incredibly more rich and the poor even poorer. Just the way they like it…….Because if they didn’t like it that way, they would change it, wouldn’t they?

    • I was taught a concept in business studies at university a concept ‘satisfice’ where business was socially obligated to consider not only profit but also wellbeing of their employees and their impact on the environment or social fabric of the country.
      Of course this is what happens when you go to a Marxist Uni and then find things are somewhat different when you leave.

  4. It’s all over for whitey in the US if he was middle or working class. Much as in South Africa his privileged position has been wiped out – gone are the pensions, affordable health care, decent education and job security that existed in the 1960s and 70s and he (usually he not she) has been thrown into the swelling underclass that has always been more the reality of the US than the starry eyed Hollywood version.

    My own son last week told me his wage rates have fallen back to 1997 levels and his hours have been cut back so much that he can only get two meals a day. he has no car or health insurance and had to go to the emergency room for a broken toe. He was treated but couldn’t pay so they turned it over to the debt collectors but they cannot get blood from a stone.

    meanwhile the military industrial complex is getting more involved in Syria and trying to stir up a civil war in Egypt. As Larry Summers said war is good business – and the only thing the US is good for.

    • War now a days isn’t good business,back in the days of monarch’s being the governments & sometimes since the only way to increase your wealth when it is impossible under good commerce is to burn the enemies or other baron’s crops or assets,for crops that would have rotted in your field or been given away now can be sold to the plebs/peasants who labour has been destroyed

      • War is still great business for the corporations of the military security industrial complex. Think Boeing, Lockheed Martin, Microsoft, Google, Facebook (and wordpress?) not to mention the bureaucrats and contractors working for them. Technology has eliminated many of the jobs previously performed by the grunts. They have robotised! The presidency and the congress are their tools obeying their wishes in return for campaign contributions. Obama thought he could be different but quickly got a lesson in real politique shortly after taking office. The whispered in his ear ‘ remember the Kennedys, Martin Luther King…..’

  5. JW,

    Have you indulged in Wongaspeak when you appear to be saying that whites are suffering more than blacks (are Hispanics included in your white cohort?).

    If you declared the nominal total of whites and also the nominal total of blacks I for one would be very surprised if the % of poor whites is greater than % of the poor black cohort.

    It is sad that anyone is poor but I do hope the point of your polemic was not that it is unfair that whites are suffering more poverty than blacks.

    If that was the point of the piece it is contrary to all that I have been reading.

    • Whites outnumber blacks about 4/1 (Whites 65-70 per cen,t blacks 13 per cent and Hispanics 18-20 per cent and Asians 4-5 per cent). The point he is making is that poverty is pervasive but whites have been falling further to where the blacks have always been. The Hispanics are different, whilst they are poor they have more cohesive family units and are also more likely to be self employed and more independent. Asians have well above average incomes in general

    • Well altergo, it wouldn’t mean that would it then?
      Follow the link and decide for yourself with the data: but Hispanics are suffering more than most.

      • JW and Oldasia,

        The point I was trying to make was why is it worthy of highlighting the plight of White poverty (allpoverty being tragic) when the Hispanics and Blacks have had and continue to have %poverty rates twice their fellow White US citizens?

        Black poverty is somewhere around 23% and Oldasia asserts Hispanics suffer even greater rates of officially defined poverty.

        To Oldasia have I misunderstood but do you think poverty for Hispanics is somehow less of a problem for US society because Hispanics have stronger family ties?

        Surely poverty in any society should be tackled from the poorest first regardless of ethnicity?

        Or are some groups more worthy of assistence solely through their skin colour?

  6. The Govt is an entity created by the people , FOR the people.
    It exists to further the prosperity and security of the nation – NOT to benefit at its expense. If this entity is allowed to exist for its own benefit or becomes corrupted by a concentration of power, or abuse of its powers, it will become susceptible to dissolution via the populace’s rejection of that government.
    The Govt has ceded its power to control the issuance of its currency to the private banking cartel . This has not occurred overnight, but since the collapse of the Bretton Woods Gold Standard in 1971 and de-regulation.
    The Finance Act of 1844 prohibited the printing of the currency by private interests. Obviously this Act is woefully outdated and does not allow for digital money,which is 97% of the money in circulation and created by the private banking cartel when they issue loans or securitise financial instruments.
    The Finance industry has created a tsunami of debt instruments, which have overwhelmed the Western economies
    The economy is a complex dynamic system with irrational participants subject to the twin oscillating evils of fear & greed.. The market cannot be expected to regulate itself or behave rationally at all times. Therefore, some level of government intervention and involvement is not only beneficial, but also necessary to prevent abuse.
    While government assists in the economic process it is ultimately the private sector that is the primary driver of innovation, productivity, economic growth and wealth creation. It is the private sector that propels increases in living standards with its activities, the most important factor in giving value and viability to the currency.
    Governments should be actively involved in regulating and helping build the infrastructure within which the private sector can generate economic growth and wealth. This infrastructure is the one that we all take for granted, roads ,schools ,education ,health service power,transport ,Law, etc.
    This is the ‘free lunch’ for the private sector,also taken for granted.
    The private sector requires labour to generate wealth, by their physical labour ,ingenuity and innovation. This is human capital. Money is a tool to assist the efficient use of capital and natural resources and in itself is not wealth.
    If the rewards for labour are subject to excess extraction ,via mortgages ,car loans,credit card bills ,expensive food and clothing, there is unrest in the labour force and eventually Corporations will seek other horizons where labour is cheaper and no restive unions attempting to maintain their members living standards.
    This is the secret of the German economy. Very few Germans own their homes,about 10/15%. Germans are averse to the use of credit cards. So there is less extraction from their pay packets and labour costs are kept under control
    The unit of account or medium of exchange (money) within a specific
    nation is ultimately a creature of law. It must therefore be regulated by the state; however, ultimately the private sector must accept this legal tender as the currency unit. Therefore, the private and public sectors should best be thought of as being in partnership with one another and not opposing forces. Government by the people and for the people is not the antagonist in this story, but rather an entity that should be best utilized to maximize private sector prosperity and thus the wealth of a nation.
    Government tax collection should be maintained at a rate that does not impose financial hardship on labour or business. High taxes increase labour costs and reduce corporate profits and reduces incentives for both labour and business.
    Because the government is not a business or household it is not required to balance its budget. Rather it should invest in business to create wealth and jobs and thus increase its tax intake, even if it runs a deficit. The increased intake from income and corporate taxes Cancels out the Govt investment. Rather, taxes and government spending should be managed in a way that most benefits the private sector and encourages private sector prosperity, productivity, innovation and growth. There is nothing to stop a Sovereign Govt with control of its currency to create full employment, by the investment of Govt issued money. We need QE for jobs now.
    The 400billion pounds of QE to the banks has not ‘TRICKLED DOWN’ to the economy. Rather it has accelerated upwards to the minority of banking interests, because it has not been used to create jobs or REAL wealth, but just more of the 97% digital money which is useless to the economy.

    • Very interesting. What do you think about alternative currencies, such as, bitcoin.
      Taxation should be based on ability to pay.
      One of the most disastrous things to happen to this country was the mad,mad,mad, speculation increase in house prices and the faux wealth that followed.

      • By the way, what mechanism is in place for the people to say the government is broken and needs renewing without the same faces that corrupted and continue to perpetuate a corrupted government.

  7. Pingback: BREAKING….Now Obama joins the statistics benders. So we have Obamanomics, Osbornomics, Draghinomics and Troikanomics. | The Slog. 3-D bollocks deconstruction

  8. Pingback: John Ward – Breaking… Real Life Under The Obama ‘Recovery’ – 29 July 2013 | Lucas 2012 Infos

  9. Pingback: John Ward – Breaking…Now Obama Joins The Statistics Benders. So We Have Obamanomics, Osbornomics, Draghinomics And Troikanomics – 29 July 2013 | Lucas 2012 Infos

  10. Fort the last three years I have worked for a major tax preparer in an office on the Upper West Side of New York, one of the wealthiest places on the planet. The US tax code requires a preparer to have an intinmate knowledge of the taxpayer, his family, education, employment, investments, housing, and healthcare, so I have seen the US economy from a very close-up and personal level. My client base ranges from single mothers on minimum wage to Wall Streeters and their (occassional) $1m paychecks, from new graduates to retirees on Soclal Security. Even in this wealthy pocket of the country many people are struggling to get by. Wages in general are much lower than in the UK. The very big division has nothing to do with race. The split is between those who have employment with a major corporation or in the public sector, with paid holidays and comprehensive healthcare coverage, and those who work in retail, catering, and small businesses where employment is uncertain, wages low, and benefits are thin on the ground.

    Surpisingly, unemployment and social security (pensions), are higher than in the UK, but being set on national scales, they go nowhere in a city with living costs similar to central London.

    The big difference however is that, however dire their situation, almost eveybody understands that the only people who can improve is themselves, with an amazing willingness to do what ever it takes to get by. The Dude in the White House (whether Donkey or Elephant) is an irrelevance to their daily struggle.

  11. The real problem here is that you cannot get 99% of the sheeple to understand investment risk, so the market remains wide open to Ponzi and Pump-n-Dump scams. So the property bubble fostered by Osborne is set to wipe out small savers again.

    This is why, after the first 10M it gets easier, you see it as a game and react MUCH more sanely and rationally.

    MFG, omb

  12. And people wonder why nobody knows WTF is going on! Nobody knows WTF is going on any more because they don’t know what they counting why or how and when the numbers don’t add up – change the numbers, simple, any primary school kid knows that. Lewis Carroll would have appreciated the irony of all this after that was what Alice in Wonderland was all about a pun on numbers!

  13. Pingback: Power, Identity and Social Change as We Enter Degrowth | Health After Oil

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